Sagard Real Estate and La Caisse Form New Industrial Storage Joint Venture in the U.S.

New Partnership in Industrial Outdoor Storage

On March 10, 2026, Sagard Real Estate (SRE) announced a strategic joint venture with La Caisse (formerly CDPQ), focusing on developing an Industrial Outdoor Storage (IOS) strategy tailored to meet the demands of several essential U.S. markets. The initial target for this collaboration has been set at a gross asset value of CAD 490 million (USD 360 million), with the possibility of further investments to expand this initiative.

Strategic Focus

This partnership hails from two influential Quebec organizations that aim to channel their expertise toward addressing the need for industrial outdoor storage in the U.S. The selected markets for this project include key locations such as Southern California, the Greater New York City area, the San Francisco Bay Area, Houston, and Baltimore/Washington, D.C. These regions have been identified as vital hubs due to their proximity to major logistics centers, enhancing supply chain efficiencies for many businesses.

Rana Ghorayeb, Executive Vice-President and Head of Real Estate at La Caisse, emphasized the importance of this IOS platform in strengthening their investment portfolio by venturing into alternative sectors. With challenges associated with e-commerce growth and shifting global trade dynamics, having a robust outdoor storage solution becomes crucial.

Collaborative Approach

Both organizations have recognized the value of their partnership. Mark Bigarel, President of Sagard Real Estate, articulated the synergies created by their combined forces. The collaborative approach allows them to leverage La Caisse's extensive capacity and long-term strategic vision with Sagard’s operational expertise. This approach optimizes their potential to seize opportunities in markets characterized by robust demand and strong growth fundamentals.

They have already marked their first acquisition within this strategic framework, securing an IOS investment in the Meadowlands area. Being fully leased, this operational hub connects seamlessly to Manhattan and the Port of New York and New Jersey, reinforcing the project's viability and longevity.

Chad Messer, Deputy CIO and Portfolio Manager at Sagard Real Estate, noted that this investment places them directly on course to achieve their objectives in the IOS sector. Given the current market landscape, where supply is limited, acquiring high-demand outdoor storage facilities positions them advantageously for generating sustainable returns.

Future Prospects

As Sagard Real Estate and La Caisse continue to execute their IOS strategy, they aim to create a scalable model supported by durable demand fundamentals. This initiative confirms their commitment to reshaping the logistics landscape in key U.S. ports and densely populated urban environments. With the rising necessity for effective logistics solutions, this partnership is set to play a pivotal role in the evolving narrative of industrial real estate.

About the Partners

Sagard Real Estate specializes in offering a wide range of investment management services throughout the U.S., including portfolio management and asset management for various stakeholders. La Caisse, with decades of investment experience, is committed to not only ensuring optimal returns for its stakeholders but also contributing to economic development in Quebec.

As these organizations embark on this venture, they carry a promise to innovate and strengthen the logistical networks vital for modern supply chains while setting an example of collaborative investment strategies that other sectors may well adopt.